For Sale

6501 Highway 93, Tay (Waverley), Ontario L0L1P0

$980,000

6501 Highway 93, Tay (Waverley), Ontario L0L1P0 is For Sale and has a listing price of 980,000. The property is located in the Tay neighbourhood. It's been on the website for 12 Days.

  • Multi-family
    Property Type
  • Other
    Building Type
  • 7
    Bedrooms
  • 6
    Bathrooms
  • 12
    Parking Spaces
  • MLS ID: S9859924
  • Office Name IPRO REALTY LTD.
Property Description

Are you looking for a way to beat the market? Interest rates are continually dropping. Unlike the majority of other properties on the market, this one actually cash flows. This is a phenomenal opportunity to own a piece of real estate with not 1,not 2, but 6 sources of income! This property features 6 residential apartment units, a generously sized lot and healthy income with room for improvement. Net income is $5,531.93 per month. Mortgage estimated at $4,253.80. That is $1,278.13 positive cash flow every month. These calculations are based on a 3.99% interest rate and a 20% down payment. As rates drop the cash flow will increase. The units are currently renting at an average of $1,130 per month, well below market value. With the opportunity to renovate as tenants vacate these units are estimated to lease out at an average of $1,650 per month. That would increase cash flow by an astounding $3,120.00 per month! In total the net cash flow would be $4,398.13. Once this process is completed, there is the opportunity to refinance based on the increased cash flow. This would allow you to potentially pull equity from this property to acquire more real estate and continue growing. Investing in real property is one of the best strategies to protect your wealth and hedge against inflation. Do not let this opportunity slip through your fingers. With rates dropping this property only becomes more and more attractive every day. This information is included for example only and is not meant to be taken as financial, legal, or tax advice.We invite you to seek the advice of your mortgage broker, accountant, lawyer, and contractor to create a plan that works best for you. Minimum of 48 hours notice before all showings. (id:43137)

Property Details
  • Bedrooms: 7
  • MLS ID: S9859924
  • Bathrooms: 6
  • Price: $980,000
  • Transaction Types: For Sale
  • Ref ID: 27602606
  • View: View
  • Year Built: N/A
  • Building Type: Other
  • Property Type: Multi-family
  • Property Type: All Houses
  • Property Sub Category: All Houses
Price History
List Date MLS ID List Price Status End Date Closed Price
10/28/2024 S9859924 $980,000 For Sale - -
Market Temperature
  • Buyer's Market
  • Balanced
  • Seller's Market
Neighborhood Stats
Tay
  • $917,648 Average List Price
    based on 1 year
  • 57 New Listings
    based on 30 days
  • 122 Median Days on Market
    based on 1 year
  • List vs. Selling Price 117.83 % Up
  • Sold (12mo) 113
  • Rented (12mo) 4

  • 1 Month Change -8.7%
  • 3 Month Change +2.4%
  • 6 Month Change +0.1%
Walkscore
Property Type Distribution
  • All Houses
    77%
  • Commercial
    17.65%
  • Condo
    0.06%
  • Land for Sale
    5.28%
Additional Details
  • Heat Source Natural Gas
  • Basement2 N/a (unfinished)
  • Heating System Forced Air
  • Water Municipal Water
  • Exterior Vinyl Siding, Stucco
  • Cooling System Central Air Conditioning
  • Total Parking Spaces: 12
  • Property Features Level Lot, Wooded Area
  • Fireplace True
  • Taxes: N/A
  • Original Price: $0
  • Sold Price: $0
  • Addl Monthly Fees: $0
  • Listing Entry Date: 28/10/2024 00:00:00
  • Zoning A/ru/ep
  • Agent Name: MATTHEW METZLER
  • Last Updated: 31/10/2024 19:58:49
Open House Dates
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